The streaming platform did not address the allegations, but said Tuesday morning in a statement to ABC News, "As a result of ongoing discussions, Netflix and the producers have written Danny Masterson out of 'The Ranch.' Yesterday was his last day on the show, and production will resume in early 2018 without him."

In a full statement to ABC News shortly after Netflix announced his character's fate, Masterson said, "I am obviously very disappointed in Netflix’s decision to write my character off of 'The Ranch.'"

"From day one, I have denied the outrageous allegations against me," the statement continued. "Law enforcement investigated these claims more than 15 years ago and determined them to be without merit. I have never been charged with a crime, let alone convicted of one."

"In this country, you are presumed innocent until proven guilty," he added. "However, in the current climate, it seems as if you are presumed guilty the moment you are accused. I understand and look forward to clearing my name once and for all. In the meantime, I want to express my gratitude to the cast and crew that I’ve worked so closely with over the past three seasons. I wish them nothing but success. I am also so thankful to the fans that have supported me and continue to do so.”

On the Netflix show, Masterson played Ashton Kutcher's onscreen brother Jameson "Rooster" Bennett. But in the midst of an ongoing Los Angeles Police Department investigation into claims by three women that the actor sexually assaulted them, the actor's character was cut.

Masterson will appear in episodes already produced that launch Dec. 14, a Netflix source told ABC News. He'll also appear in some episodes that will premiere in 2018, although Netflix wouldn't specify how many.

The LAPD robbery homicide division’s sex assault section confirmed to ABC News in March that detectives were investigating allegations that Masterson had sexually assaulted three women in the early 2000s.

In his career, Masterson also co-starred with Kutcher in "That '70s Show," in addition to appearing in movies like "Yes Man" with Jim Carrey. Upcoming projects include "Killing Winston Jones," which also features Danny Glover and Richard Dreyfuss and is set to premiere next year.